Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date May 1 Checks Deposits Other Balance $ 260 May 4 #2 $ 25 $ 65 300 May 12 #4 115 NSF check $ 65 120 May 28 #5 35 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit Credit May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If
no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
BANK STATEMENT
Date
Checks
Deposits
Other
Balance
May 1
$ 260
May 4 #2
May 12 #4
May 28
#5
$ 25
115
35
$ 65
300
NSF check
$ 65
120
85
May 30 #6
30
260
315
May 31
#8
70
Service charge
20
225
Cash (A)
Debit
May 1
May 3
260
65
Credit
65
25
May 3 #2
85
May 4 #3
115
May 8 #4
35
May 11 #5
30
May 21 #236
May 29
260
40
May 29 #37
May 30
180
70
May 30 #8
May 31
365
Transcribed Image Text:Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 260 May 4 #2 May 12 #4 May 28 #5 $ 25 115 35 $ 65 300 NSF check $ 65 120 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit May 1 May 3 260 65 Credit 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #236 May 29 260 40 May 29 #37 May 30 180 70 May 30 #8 May 31 365
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